Ever wonder what it costs to buy a luxury property in a U.S. city?
It differs according to where you’re looking, of course. myaffordableluxury.com recently collected data from Redfin and Zillow to access what truly makes a luxury property in some of the largest cities in the country.
Despite a difficult start to the year, the general housing market has remained steadfast and continues to grow, with Realtor.com citing a median home listing price of $350,000, which is up 12.2% YOY in October.
After looking at the top 10% of listings, each with a price of at least $500,000, myaffordableluxury.com then ranked all cities based on the highest threshold necessary for a home to be labeled as a luxury property in its given location.
With a Scottsdale mansion selling for a cool, record-breaking $24.1 million in the exclusive Silverleaf community this past fall, it comes as no surprise that Phoenix ranks within the top 20 U.S. luxury real estate markets, coming in at number 17 with a starting price point of $1,275,000.
View the full report on “What Buys You a Luxury Property in America’s Largest Cities” here.